American engineering and consulting company Tetra Tech has raised its earnings expectation and the bottom end of its full-year revenue projection for fiscal 2022 after quarter-one revenue rose 12% year-on-year to US$859 million. CEO Dan Batrack said revenue, earnings and cash flow for the period were records.
California-based Tetra Tech (NASDAQ: TTEK) says it now expects FY22 net revenue to be in the $2.65-2.8 billion range, versus the $2.6-2.8 billion guidance it put out last November. FY21 net revenue came in at $2.55 billion.
FY22 earnings-per-share is now in the $4.15-4.30 range.
Cash generated from operations in Q1 was $82 million, up 148% yoy.
Tetra Tech said its order backlog at the end of December was $3.45 billion, up 8% yoy.
The company’s share price is down nearly 18% year-to-date at $140.93, capitalising it at $7.61 billion. The shares have more than doubled in value since March 2020.